In March 2016 Orcom C&A was invited to give a presentation at Fudan University in Shanghai to their ESSEC Global MBA students. The prestigious French business school ESSEC and Fudan University, known as one of the best universities in China, are part of the Council on Business and Society. This Council brings together the leading (...)
Despite specific rules set out by any given company regarding the transference of shares to third parties, this new bill attempts to standardize shareholders rights when shares of a given company are being sold to a third party. These new privileges are dubbed “preemptive rights” and have many intricacies worth being knowledgeable about.
Here is our introduction to the Cai Guan Shui [2016] No. 18 bill that we covered in greater detail in our previous Special Topic Newsletter No. 6. This installment provides a quick glimpse over what imported commodities will be subject to the new cross-border E-commerce tariff.
In this article, we illuminate how China has given special attention to Enterprise Income Tax issues, particularly regarding those of high-risk and profit/production models of key industries. This aligns with the trend of the PRC’s enforcement of BEPS practices.
The Circular of the Ministry of Human Resources & Social Security and the Ministry of Finance aim to ease the burden of social insurance on employers with this latest bill. The PRC aimed to have a 20% maximum endowment insurance rate by the end of 2015 and intends to further decrease that same rate in (...)
China further aims to strengthen its economic relationship with Indonesia by ratifying this protocol to agree on tax exemption for Air and Shipping Transportation in both countries.
The State Council issued the Guiding Opinion on Promoting Cooperation within the Pan-Pearl-River Delta Region, promoting the economic cooperation between China's South Provinces ad Regions. The cooperation is mostly between mainland China and HK / Macao governments at the moment, but there is a strong possibility that it will benefit (...)
The Announcement clarifies the details behind the Convention that applies to tax categories collected and administrated by tax authorities in accordance with applicable laws, specifically including Enterprise Income Tax (EIT), Individual Income Tax (IIT), Urban Land Use Tax, Housing Property Tax, and other 12 tax categories. The specific requirements of the information exchange shall be (...)
The SAT Announcement No. 23 clarifies different matters related to tax collection and administration, such as: the VAT filling period, the registration of normal VAT taxpayer status, the use of invoices, the issuance of VAT invoices, the cancellation of VAT invoice verification requirement for some taxpayers and others.
Effective as of June 9th, SAFE’s new policy (“Circular 16”) aims to accomplish three objectives: to further the reforms made to the foreign exchange management system, to more effectively attend to the needs and goals of domestic enterprises in regards to their investment ventures and to encourage easier cross-border investment/financing arrangements.